Splitting dinner checks with friends in the age of credit cards and no cash has become increasingly complex, but Square Cash for iOS just received a huge redesign and feature update today that makes paying back a buddy as easy as sending a text.
Square Cash 2.0 now enables anyone to request money from up to 25 people at once, even if they don’t use the app, and best of all there aren’t any fees.
The update allows you to request money from anyone in your address book by using a friend’s phone number or email address. Once a request or payment is sent, you can track it in the Activity panel, or choose to be notified with a push notification when your money is ready.
To promote the new feature Square Cash is will add a buck to your account for each person you recruit to download and setup the app. Square says most Cash users receive funds in their bank account in minute without fees, but some banks can take 1-2 business days to clear your payment.
The new features come wrapped in a simplified UI redesign that reduces the number of taps to send and receive funds. Hundreds of millions of dollars have been sent using Cash in just the 12 months since its release last year, but according to some estimates, the company loses as much as 25 cents per transaction.